Bicycle Frames Market Size - By Material (Aluminum, Steel, Carbon Fiber, Titanium), Frame Type (Mountain Bicycle, Hybrid Bicycle, Electric Bicycle, Road Bicycle), Sales Channel (Online, Offline), Distribution Channel (OEM, Aftermarket) & Forecast, 2024 - 2032

Bicycle Frames Market Size

Bicycle Frames Market size was valued at USD 21.8 billion in 2023 and is estimated to register a CAGR of over 6.5% between 2023 and 2032. The increasing influx of funding aimed at expanding the production of innovative bicycle frames is driving the market growth. For instance, in May 2022, Rein4ced concluded its Series C funding round, securing a total investment of USD 12.6 million from PMV and Invest for Jobs. The funds raised by Rein4ced were utilized to scale up the production of cutting-edge bicycle frames. Such financial support enables companies to enhance manufacturing capabilities, develop advanced technologies, and meet the rising demand for high-performance and specialized frames.
 

The surge in cycling's popularity, driven by the increasing interest in recreational and eco-friendly transportation, is a key factor propelling the bicycle frames market. As more individuals embrace cycling for fitness and sustainable commuting, the demand for bicycles rises, consequently boosting the need for high-quality frames. This trend aligns with a broader societal shift toward healthier and environmentally conscious lifestyles, fostering a growing market for innovative and performance-oriented bicycle frames to meet the evolving needs of cyclists worldwide.
 

The bicycle frames market faces potential disruptions due to the rising material costs. Fluctuations in the prices of key materials, such as metals and advanced composites, can significantly impact the manufacturing expenses for bicycle frames. Manufacturers may find it difficult to maintain competitive pricing and profitability in the face of these price variations, potentially leading to increased prices for bicycle frames, in turn, affecting consumer affordability and limiting the overall market demand.
 

COVID-19 Impact

The COVID-19 pandemic negatively impacted the bicycle frames industry. Disruptions in the global supply chain, lockdown measures, and economic uncertainties led to a reduced production capacity and increased manufacturing costs. Supply chain challenges, coupled with decreased consumer spending during lockdowns, resulted in a decline in demand for bicycles including frames. The industry faced logistical hurdles, delayed production timelines, and a temporary slump in sales, contributing to an overall negative impact on the bicycle frames market.
 

Bicycle Frames Market Trends

The increasing demand for high-performance e-bikes is fostering lucrative growth in the market. Consumers' growing interest in electric bikes with advanced capabilities has led to a surge in demand for frames designed for optimal performance. For instance, in September 2023, Moots introduced a gravel e-bike featuring a carbon fiber frame. The e-bike is equipped with GRX RX-870 carbon wheels, incorporating Panaracer GravelKing SK+ 50c tubeless tires mounted on the 25mm internal-width rims. Carbon fiber is the optimal material for achieving a high level of performance in an electric bike.
 

Continuous research & development in materials is propelling the market forward. Innovations in materials, such as carbon fiber composites, advanced alloys, and hybrid constructions, contribute to the creation of frames with improved strength, reduced weight, and enhanced performance characteristics. This ongoing exploration allows manufacturers to stay at the forefront of technology, meeting the evolving demands of cyclists for lightweight, durable, and high-performance frames.
 

Bicycle Frames Market Analysis

Based on sales channel, the offline segment generated a market revenue of around USD 12.6 billion in 2023, attributed to the unique advantages offline channels offer including an in-person experience that allows customers to physically assess and test frames, fostering greater confidence in their purchasing decisions. Brick-and-mortar stores leverage knowledgeable staff that provides expert guidance, aiding customers in choosing frames tailored to their preferences and needs. This personalized approach, coupled with the immediate availability of products, contributes to the appeal of offline channels, particularly for those seeking hands-on assistance and quick access to their chosen bicycle frames.
 

Based on material, the aluminum segment held over 40% of the bicycle frames market share in 2023. The incorporation of low-carbon aluminum materials to decrease both weight and carbon footprint is driving significant growth in the aluminum segment. As manufacturers adopt these sustainable materials, bicycles benefit from reduced weight and environmental impact, meeting the growing demand for eco-friendly and high-performance options.
 

For instance, in July 2023, Hydro entered into a partnership with Brompton, a bicycle company based in the UK, to supply low-carbon aluminum to decrease the weight and carbon footprint in Brompton’s folding bicycles. The companies will investigate the use of low-carbon and post-consumer recycled aluminum as an essential component in achieving these objectives.
 

Asia Pacific bicycle frames market size accounted for 35% of the revenue share in 2023. The robust economic development in the region is propelling the market. As disposable income rises, more individuals can afford recreational pursuits including cycling. This economic growth has heightened the demand for high-quality bicycles and frames owing to a desire for reliable and efficient transportation options. The expanding middle class, particularly in countries including China and India, contributes significantly to the increasing consumer base seeking bicycles and frames for both leisure and daily commuting.
 

Bicycle Frames Market Share

Giant Manufacturing Co. Ltd., Merida and Trek are the dominant companies in the bicycle frames industry. These companies are fiercely competing for market share through strategic initiatives. This includes securing substantial funding for research & development, forging key partnerships to enhance product offerings, and investing in innovative technologies. These efforts are aimed at gaining a competitive edge, expanding market presence, and meeting the evolving demands of cyclists globally.
 

Giant Manufacturing Co. Ltd. offers a diverse range of bicycle frames tailored to various cycling disciplines, from road and mountain biking to urban commuting and e-bikes, this allows Giant to address a wide market spectrum and meet the diverse needs of cyclists.
 

Bicycle Frames Market Companies

Major companies operating in the bicycle frames industry are:

• Bianchi
• Cannondale Bikes
• Canyon
• Cervélo
• Cicli Pinarello SRL
• Giant Manufacturing Co. Ltd.
• Merida
• Pinion
• SCOTT Sports SA
• Trek
   

Bicycle Frames Industry News

• In July 2023, Trek introduced an electric bike variant of its Fuel EXe, featuring an alloy frame. This new electric mountain bike maintains the same geometry and utilizes a 150/140mm travel suspension layout, aligning with the design characteristics of its carbon counterparts.
   

The bicycle frames market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) and shipments (Units) from 2018 to 2032, for the following segments:

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Market, By Material

• Aluminum
• Steel
• Carbon Fiber
• Titanium
• Others

Market, By Frame Type

• Mountain Bicycle 
• Hybrid bicycle
• Electric Bicycle
• Road Bicycle
• Others

Market, By Sales Channel

• Online
• Offline

Market, By Distribution Channel

• OEM
• Aftermarket

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Nordics
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Southeast Asia 
• Latin America
  • Brazil
  • Mexico
  • Argentina 
• MEA
  • South Africa
  • UAE
  • Saudi Arabia